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The future of banking is a digital service

»The future of banking establishes trust without having physical bank branches. The future of banking is a digital service only« Our CEO, Rune Mai, says in an opinionated piece published in Berlingske. Read the entire article below and see what the future of banking will bring.


We’re talking a lot about FinTech and the future of banking these days.

But if we truly want to understand what banking services will look like in the future, we need to stop using the word »bank« and instead focus on simplicity and products. 

Millennials have a digital mindset and expect to be able to download an app that takes care of everything in a simple and user-driven way. Modern consumers expect personalised services that gather and process information, so it becomes easy and simple to make important decisions. 

Once, customer loyalty was connected to big affiliates, suits, and expensive design furniture in the bank foyer. In the future, customer loyalty will be a mutual contract based on understanding, transparency, and equality. 

In this way, no one will build products for their clients; everyone will build products with their clients. 

But if values such as conventional customer loyalty and protectionism are on the way out, what will they be replaced with?  

Of course, it’s difficult to come up with one simple answer to that question. 

Yet, we’ve observed some valuable tendencies that only seem to be reinforced even more in the coming decade.


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Therefore, we believe that: 


The future of banking isn’t a bank, but a service that is weaved into the lives of the consumers. 

The future of banking optimizes your finances, so you can live the life you want to, and get relevant discounts that fit your life and spending habits. 

The future of banking is a personalised experience in which banks as an institution disappears to make room for more value-added tools and services. 

The future of banking has a few dedicated products with attractive prices. 

The future of banking establishes trust without having a physical bank branch. The future of banking is a digital service only.

The key to the future of banking is the ability to make the complex more simple. The relations should be turned upside down so the consumer will be the centre of attention.

To do that, banks need to go digital with their services, including overdraft facilities, credit scoring management, savings account, but also products that we don’t see as conventional banking business today. 

It might sound like a simple job to make something more simple - but in reality, history proves something else.